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« on: March 25, 2014, 03:44:56 am »
I'm not a really a techie type, but have recently been reading a good amount about bitshares. From what I've read, bitUSD is intended to track USD closely. If it does that, then I believe bitshares X and the entire bitshares movement could be a huge success.
But what if, after launch of Bitshares X, bitUSD decouples from the USD? Granted, if people believe that the focal point in this "prediction market" is that bitUSD will track the USD closely, then perhaps it will. But there are plenty of cases in the financial world where things that should track an underlying asset don't. Just look at closed-end mutual funds, or Royal Dutch-Shell, or any one of a number of examples of anomalous stock price behavior.
Will bitUSD track well? That is the $64 billion question, I guess, and the outcome of the Bitshares XT experiment will have implications for most or all future bitshares DACs. If tracking does not occur, would that be the end of Bitshares X? Does 3I have a contingency plan in case Bitshares X doesn't succeed?